The companies hope that their combined activities and product portfolios will help create a well-balanced entity in North and South America, in Europe and will also support further growth activities in the Asia-Pacific region.
“With Bosch Rexroth, we found a great partner who values and shares similar views on innovation, customer focus, application expertise, and culture,” said Mike Terzich, president and CEO of HydraForce. “I believe the new ownership will create great opportunities for our customers, partners and employees and lead to sustained growth.”
Both sides agreed to keep the purchase price confidential. The transaction is subject to anti-trust approval.
“With its diversified portfolio and international setup, Bosch Rexroth has a strong foundation,” added Frank Hess, vice president of the Compact Hydraulics business unit of Bosch Rexroth. “The acquisition of HydraForce expands our global market access through indirect sales channels: Sales partners and system integrators will become important target groups. In these challenging times, we are also helping to stabilize regional supply chains so that we can support our customers even better.”
The company reached a deal with Novinium Holdings, a Washington-based cable rejuvenation solutions provider.
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